Dish Network 2015 Annual Report Download - page 142
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DISH NETWORK CORPORATION
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS - Continued
F-38
Future minimum lease payments under the capital lease obligations, together with the present value of the net
minimum lease payments as of December 31, 2015 are as follows (in thousands):
For the Years Ended December 31,
2016 $ 76,676
2017 75,874
2018 75,849
2019 50,320
2020 48,000
Thereafter 64,000
Total minimum lease payments 390,719
Less: Amount representing lease of the orbital location and estimated executory costs (primarily
insurance and maintenance) including profit thereon, included in total minimum lease payments (186,742)
Net minimum lease payments 203,977
Less: Amount representing interest (37,485)
Present value of net minimum lease payments 166,492
Less: Current portion (30,849)
Long-term portion of capital lease obligations $ 135,643
The summary of future maturities of our outstanding long-term debt as of December 31, 2015 is included in the
commitments table in Note 15.
11. Income Taxes and Accounting for Uncertainty in Income Taxes
Income Taxes
Our income tax policy is to record the estimated future tax effects of temporary differences between the tax bases of
assets and liabilities and amounts reported on our Consolidated Balance Sheets, as well as probable operating loss,
tax credit and other carryforwards. Deferred tax assets are offset by valuation allowances when we believe it is
more likely than not that net deferred tax assets will not be realized. We periodically evaluate our need for a
valuation allowance. Determining necessary valuation allowances requires us to make assessments about historical
financial information as well as the timing of future events, including the probability of expected future taxable
income and available tax planning opportunities.
We file consolidated tax returns in the U.S. The income taxes of domestic and foreign subsidiaries not included in
the U.S. tax group are presented in our consolidated financial statements on a separate return basis for each tax
paying entity.
As of December 31, 2015, we had no net operating loss carryforwards (“NOLs”) for federal income tax purposes
and $39 million of NOL benefit for state income tax purposes, which are partially offset by a valuation allowance.
The state NOLs begin to expire in the year 2017. In addition, there are $61 million of tax benefits related to credit
carryforwards which are partially offset by a valuation allowance. The state credit carryforwards began to expire in
2015.